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Generally, if you withdraw funds from a tax-deferred retirement account and have
not reached age 59 1/2, your withdrawal will be subject to a 10% penalty on the
amount withdrawn. In addition to paying income taxes at the federal level, you
may have to pay state taxes. There may also be a state penalty on
an early withdrawal. State taxes are not considered in this example.

Your federal income tax rate after making the withdrawal:

0%

The amount you plan to withdraw from your tax-deferred account:

$0

The estimated taxes due on the amount withdrawn:

$0

The 10% penalty on the amount withdrawn:

$0

The estimated total taxes and penalties:

$0

The amount remaining after taxes and penalties:

$0

Whenever possible, it's generally best to avoid paying early withdrawal penalties on retirement assets. How much of your retirement nest egg would be lost to taxes and penalties if you took an early withdrawal? Note that this example assumes that the account is funded with pre-tax or tax-deductible contributions, and that withdrawn amounts are taxable.

Total taxes and penalties are estimated to be $0.00. After taxes
and penalties, the amount remaining will be $0.00.

There are certain exceptions to the penalty imposed on an early withdrawal. However,
income taxes must still be paid. Consult your tax advisor before taking any action.

Distribution Potentially Lost to Penalties and Taxes

This hypothetical example is used for illustrative purposes only. Actual results will vary.

The information in this calculator is not intended as tax or legal advice, and it
may not be relied on for the purpose of avoiding any federal tax penalties. You
are encouraged to seek tax or legal advice from an independent professional advisor.
The content is derived from sources believed to be accurate. Neither the information
presented nor any opinion expressed constitutes a solicitation for the purchase
or sale of any security.

"James McCoy is an agent licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent unaffiliated insurance companies in the states of AL, TN, GA, MS.No insurance business may be conducted outside these state(s) referenced.

James McCoy is a Registered Representative of and offers securities products & services through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency. In this regard, this communication is strictly intended for individuals residing in the state of AL. No offers may be made or accepted from any resident outside the specific state referenced. NYLIFE Securities LLC is a New York Life Company.